AUSTRALIA'S wine exporters are farewelling 2008 as a horrible year and hoping for a brighter 2009.
During 2008 the total volume of wine fell 11 per cent to 698 million litres while the value fell 18 per cent to A$2.46 billion.
The average price declined 8 per cent to A$3.53 per litre.
The wine exports reached a high of A$3 billion in 2007.
Information from the Australian Wine and Brandy Corporation’s Wine Export Approval Report shows during the first half of the year, the strong Australian dollar placed enormous pressure on exports.
A low 2007 harvest and expectations of a low harvest in 2008 placed uncertainty on supply.
During the second half of the year the Australian dollar began sliding, but the global credit crisis started to bite in Australia’s wine markets placing additional pressure on exports.
Volume declined for the first time since 1995 and the value fell for the first time in 15 years.
Bottled shipments accounted for slightly more than three quarters of the decline in volume of Australian wine exported last year.
The Corporation cited the global financial crisis, exchange rate volatility, intense competition from other suppliers, tightening margins and the extended drought as factors contributing to the slowdown.
